Los Angeles Capital Management LLC Acquires 740,842 Shares of Neurocrine Biosciences, Inc. $NBIX

Los Angeles Capital Management LLC boosted its holdings in Neurocrine Biosciences, Inc. (NASDAQ:NBIX) by 19,454.9% in the second quarter, HoldingsChannel reports. The firm owned 744,650 shares of the company’s stock after purchasing an additional 740,842 shares during the period. Los Angeles Capital Management LLC’s holdings in Neurocrine Biosciences were worth $93,595,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of NBIX. Y Intercept Hong Kong Ltd purchased a new position in shares of Neurocrine Biosciences in the 1st quarter worth about $1,460,000. Assetmark Inc. raised its position in Neurocrine Biosciences by 10.8% in the second quarter. Assetmark Inc. now owns 21,001 shares of the company’s stock worth $2,640,000 after acquiring an additional 2,045 shares during the period. Financiere des Professionnels Fonds d investissement inc. bought a new position in shares of Neurocrine Biosciences during the 2nd quarter valued at approximately $696,000. Wealth Enhancement Advisory Services LLC grew its position in shares of Neurocrine Biosciences by 229.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 19,107 shares of the company’s stock valued at $2,467,000 after acquiring an additional 13,301 shares during the period. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of Neurocrine Biosciences during the 2nd quarter worth approximately $342,000. 92.59% of the stock is currently owned by institutional investors.

Neurocrine Biosciences Trading Down 1.6%

NBIX stock opened at $152.37 on Friday. Neurocrine Biosciences, Inc. has a 12-month low of $84.23 and a 12-month high of $157.67. The stock’s 50 day simple moving average is $142.02 and its 200 day simple moving average is $131.23. The stock has a market capitalization of $15.19 billion, a PE ratio of 36.45, a price-to-earnings-growth ratio of 0.94 and a beta of 0.22.

Neurocrine Biosciences (NASDAQ:NBIX) last announced its quarterly earnings results on Tuesday, October 28th. The company reported $2.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.46. Neurocrine Biosciences had a net margin of 15.95% and a return on equity of 15.82%. The firm had revenue of $794.90 million for the quarter, compared to the consensus estimate of $746.61 million. During the same quarter last year, the firm posted $1.81 EPS. The business’s quarterly revenue was up 27.8% compared to the same quarter last year. On average, research analysts predict that Neurocrine Biosciences, Inc. will post 4.28 earnings per share for the current year.

Insider Buying and Selling at Neurocrine Biosciences

In other news, Director William H. Rastetter sold 18,000 shares of Neurocrine Biosciences stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $151.82, for a total transaction of $2,732,760.00. Following the transaction, the director owned 40,360 shares in the company, valued at $6,127,455.20. This trade represents a 30.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Kyle Gano sold 300 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $141.97, for a total value of $42,591.00. Following the completion of the transaction, the chief executive officer directly owned 140,407 shares in the company, valued at $19,933,581.79. This trade represents a 0.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 4.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

NBIX has been the subject of several research reports. Piper Sandler increased their price objective on Neurocrine Biosciences from $175.00 to $179.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. Wall Street Zen raised Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a report on Saturday, August 2nd. Zacks Research upgraded Neurocrine Biosciences from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 15th. Guggenheim raised their target price on Neurocrine Biosciences from $165.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Neurocrine Biosciences in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Neurocrine Biosciences presently has an average rating of “Moderate Buy” and an average target price of $170.26.

Neurocrine Biosciences Profile

Neurocrine Biosciences, Inc discovers, develops, and markets pharmaceuticals for neurological, neuroendocrine, and neuropsychiatric disorders in the United States and internationally. The company’s products include INGREZZA for tardive dyskinesia and chorea associated with Huntington’s disease; ALKINDI for adrenal insufficiency; Efmody capsules for classic congenital adrenal hyperplasia; Orilissa tablets for endometriosis; and Oriahnn capsules to treat uterine fibroids.